Modular public chain is gradually becoming the most discussed topic, and the so-called modularity is to divide the consensus layer, data availability layer (DA), settlement layer, transaction execution layer, etc. into different chains, rather than one chain to handle all modules. Let’s take a look at the fastest modular implementation layer, Fuel. The modular public chain is designed to divide the system into multiple module components, so that it has the characteristics of blockchain, and can even have sub-functions such as DEX application chain, stablecoin application chain, NFT application chain and derivative application chain. Developers can extract these new modules and arrange them in any order to achieve more advanced functionality. In addition, the modular public chain has its own unique logic, which attempts to weaken the “impossible triangle” problem and practice the core spirit of blockchain technology. In fact, the concept of modular public chains was first mentioned a few years ago, but was quickly diluted by other hot topics. It wasn’t until the second half of last year that the Big V mentioned modular public chains again, because Ethereum’s Layer2 solution, which is an important foundation and prerequisite for the implementation of public chain modularity, started to take off. It is worth noting that modular public chains are mainly proposed solutions for Ethereum upgrades, and their narrative logic revolves around Ethereum. However, there are currently other projects on the chain looking at this for performance improvements. The “triangle of impossibility” of blockchain technology has been a problem that has plagued developers and users, and solutions such as Layer2 are designed to address this core problem. Specifically, Layer2’s approach is to move the computation and processing of data to Ethereum’s Layer2 network, where the Layer 1 network is primarily responsible for security, or consensus. The modular public link further divides the blockchain into three layers: the execution layer, the settlement layer and the data availability layer. Generally speaking, these three layers already exist, but they are coupled in the Ethereum network, without clear boundaries and division of labor. The purpose of modular public chain is to decoupage these layers. Firstly, in the technical environment of Layer2 application, functions such as privacy security, node verification, transaction confirmation, data storage and fraud proof are processed separately, so as to achieve on-chain capacity expansion.

Fuel Introduction

Fuel was the first Optimistic Rollup to be deployed on Ethereum’s main network, launching version V1 on Ethereum in late 2020. It provides scalability by using a different execution model than EVM, namely a highly parallelizable minimal execution system based on UTXOs that supports ETH and all ERC-20 tokens. However, because Fuel V1 has too few users and does not support smart contracts, it has not been welcomed by users since its launch. Shortly after the launch of Fuel V1, Fuel’s development team, Fuel Labs, shifted its full development focus to V2 and positioned it as a modular execution layer, a verifiable computing system designed for the modular blockchain stack. team One of the co-founders of Fuel Labs is John Adler, co-founder of the modular blockchain network Celestia. Fuel Labs’ Sway language specialist Emily Herbert is also a computer scientist. The team also has Zaki Manian (IBC co-creator and early Cosmos contributor), Ekram Ahmed (Head of marketing and Communications for Celestia), and Vanessa Grellet (Managing partner at Aglae Ventures) as project advisors. financing Fuel Labs received funding from the Ethereum Foundation in 2020, and then received donations on Gitcoin. In addition, in September 2021, Fuel Labs received funding support from external investment institutions and completed $1.5 million in financing. The lead investor was CoinFund, with Fenbushi Capital, Origin Capital and others also investing. In early September 2022, Fuel Labs, a developer of modular Blockchain Fuel, announced the completion of $80 million in funding led by Blockchain Capital and Stratos Technologies. Other investors include Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic, and ZMT.

Technical characteristics

The Fuel (V2) technology stack has three core pillars: Parallel transaction execution: Fuel uses a strict state access list in the form of UTXO model, so it has the ability to execute transactions in parallel and has advantages in terms of computation, state access and transaction throughput). Fuel Virtual Machine (FuelVM) : Designed to reduce the wasteful processing of traditional blockchain virtual machine architectures while increasing the potential design space for developers. Developer Experience (with Sway and Forc) : Fuel uses its own domain-specific language Sway and support tool chain Forc to provide a robust and fluid developer experience. The development environment retains the advantages of smart contract languages such as Solidity, while adopting the paradigm introduced in the Rust tools ecosystem and including syntax to leverage blockchain VMS.

summarize

With the development of Layer 2 and Rollups, the Ethereum ecosystem moved to a modular architecture. One of the biggest obstacles to mass adoption of blockchain technology is scalability. The Tier 1 extension solution focuses on block production rather than block validation. The modular blockchain infrastructure is designed to facilitate Web3 adoption with scalability, security, and decentralization features, and is focused on easy integration, fast delivery, and user experience.